Asia is driving the future growth of the aviation industry and China is driving the growth in Asia
"Asia Pacific overtook North America as the largest single market for aviation in the world in 2009. China is leading the market in Asia with 38% of passengers in the region either starting or ending their journey in China. By 2013, this will increase to 45%. China is a big market, and getting bigger. IATA is here to support the growth, and to ensure that the industry gets strong."
Giovanni Bisignani, IATA's Director General and CEO
The China Landscape
The world's 3 major large aircraft manufacturers all agree there is significant growth coming out of China in the next 20 Years.
- China will increase its fleet size to 4,233 by the end of 2028. This is an increase of 3,796 aircraft, an increase of over 318%
- 150-seat aircraft will be the biggest category with 1,572
- China would buy 3,770 planes at USD 400 billion in the next 20 years
- 316% Growth!
- China needs around 2,800 jets in the next two decades
- 235% increase compared to the present fleet size
Business Aviation also set to soar!
- China alone is expected to generate orders for 300 new business jets over the next 10 years. With China beginning to realize the benefits, they are relaxing some of the strict regulations governing the use of business jets.
- Teal Group expects the size of the global business jet industry to reach $94.4 billion in the next decade, and for China to account for RMB 60 billion of that figure.
Helicopters demand to grow significantly
- China is emerging to be the world's No.1 helicopter market - AVIC
- An existing civil and commercial demand of helicopters in China - from 174 to over 2,000 helicopters in the next 10 years
To accommodate this growth, China will need over 700 thousand (300% growth) service and management personnel with proper education and training by 2020 according to China's 11th 5-Year Plan.
With the tremendous growth in China's air fleets, the demand for relevant MRO services is also climbing.
C919 project driven by COMAC forming cooperation between international players and local suppliers, China's Aerospace Manufacturing Industry is now more open to the global community.
By 2020, the number of airports in China is expected to reach 244, and will be a primary driver of the industry's growth over the next 2 years of economic slowdown.